The introduction of Apple Pay has ensured that mobile payments using NFC technology and a token system is the future, according to founder of New York start up Moven, Brett King.
The move does not mean the end of the plastic card just yet but mobile payments – including P2P – will become the dominant method of payment in just a few years, King says in this post.
“Whether you are a farmer in Kenya, or an Apple Fanboy in New York City – mobile payments ubiquity is inevitable,” he says.
He cites better security, ease of use, and the ongoing decline of physical payment methods around cash and particularly cheques as reasons why mobile payments are now poised to take off with the introduction of Apple Pay.
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